OMERS ADMINISTRATION Corp Takes Position in Pacific Gas & Electric Co. $PCG

OMERS ADMINISTRATION Corp purchased a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 287,999 shares of the utilities provider’s stock, valued at approximately $4,844,000.

Several other institutional investors and hedge funds have also made changes to their positions in PCG. Osmosis Investment Management UK Ltd acquired a new stake in Pacific Gas & Electric in the 2nd quarter valued at about $3,388,000. Sanctuary Advisors LLC acquired a new position in Pacific Gas & Electric during the second quarter worth about $3,455,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Pacific Gas & Electric during the second quarter worth about $314,855,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Pacific Gas & Electric in the second quarter valued at about $378,000. Finally, Bank of Nova Scotia purchased a new stake in shares of Pacific Gas & Electric in the second quarter valued at about $61,711,000. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pacific Gas & Electric

In related news, EVP Marlene Santos sold 158,250 shares of the firm’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the sale, the executive vice president owned 230,885 shares in the company, valued at approximately $4,155,930. This trade represents a 40.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PCG. Morgan Stanley dropped their price objective on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday. BMO Capital Markets reduced their target price on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Weiss Ratings cut Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. dropped their price target on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Finally, Truist Financial cut their price target on Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.20.

Pacific Gas & Electric Price Performance

NYSE:PCG opened at $18.10 on Tuesday. Pacific Gas & Electric Co. has a 12-month low of $14.34 and a 12-month high of $19.16. The firm has a market cap of $48.50 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.14 and a beta of 0.28. The company’s 50-day moving average is $17.31 and its two-hundred day moving average is $17.30. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.20 billion. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Research analysts expect that Pacific Gas & Electric Co. will post 1.65 EPS for the current year.

About Pacific Gas & Electric

Pacific Gas & Electric (NYSE: PCG) is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company’s core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E’s operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.